Western Uranium Corporation Announces Common Shares Now Trading on OTCQX

TORONTO, ONTARIO and NUCLA, COLORADO--(Marketwired - May 23, 2016) - Western Uranium Corporation (CSE:WUC)(OTCQX:WSTRF) ('Western' or the 'Company') is pleased to announce that its common shares have commenced trading on the OTCQX® Best Market under the symbol "WSTRF." OTCQX, the most prestigious market operated by OTC Markets Group, offers U.S.-based investors convenient access to Western while ensuring the highest regulatory standards.

The commencement of trading on the OTCQX is a significant step forward for Western and is intended to provide easier access, greater transparency and increased liquidity for all investors including, in particular, U.S. investors. Current financial disclosure and real-time quotes for Western can be found on www.otcmarkets.com.

Western's common shares will continue to trade on the Canadian Securities Exchange (CSE) under the symbol "WUC."

George Glasier, President & CEO of Western commented: "We are very pleased for the opportunity to trade on OTCQX and see this as an important step towards increasing shareholder liquidity and investor visibility for our Company. Western is experiencing an exciting transformation as it advances into production and we feel that the OTCQX market will improve the quality and availability of information to the investment community."

About Western Uranium Corporation

Western Uranium Corporation is a Colorado based uranium company focused on the near-term production of uranium and vanadium in the western United States.

This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made.